Wall Street Reform built a stronger and more stable foundation for economic growth and made our financial system safer and more resilient by curbing excessive risk-taking, closing regulatory gaps, and putting in place the strongest consumer financial protections in history. However, its full benefit to our Nation's citizens and the economy cannot be realized unless the entities charged with establishing and enforcing the rules of the road have the resources and independence to do so. That’s why the President has been clear that we have to fund Wall Street’s regulators at levels that allow them to do their important work, and he’s repeatedly proposed funding levels in each year’s Budget that would be sufficient to implement Wall Street Reform. And that is also why he has repeatedly fought to keep our regulators free from the political whims of Congress.

Today, the Office of Management and Budget released the 2016 Mid-Session Review (MSR), which updates the Administration’s estimates for outlays, receipts, and the deficit in light of economic, legislative, and other developments that occurred since the release of the President’s 2016 Budget in February.